Scorpio Tankers Inc. (STNG) disclosed that it has entered into agreements to sell three product tankers and to time‑charter‑out two LR2 product tankers. The sale agreements cover two 2015‑built, scrubber‑fitted MR tankers—STI Seneca and STI Osceola—each priced at $35 million, and one 2015‑built, scrubber‑fitted LR2 tanker—STI Solidarity—priced at $60 million, for a total of $130 million in proceeds. The company expects the sales to close in the first or second quarter of 2026.
The charter agreements involve two LR2 product tankers, STI Lombard and STI Rambla. Lombard will be chartered for five years at a daily rate of $33,000, while Rambla will be chartered for eight years at $30,500 per day. Both charters are slated to commence in the first or second quarter of 2026, providing a predictable, long‑term income stream that complements the liquidity generated by the vessel sales.
The transaction is part of Scorpio Tankers’ ongoing fleet renewal strategy. By divesting older, 2015‑built vessels that are still financed under the company’s 2023 $1.0 billion credit facility, the company will reduce the outstanding debt on those assets by $20.2 million and free up capital that can be deployed toward newbuildings or other strategic initiatives. The charter rates are competitive with current market levels for LR2 tankers, and the long‑term nature of the agreements aligns with the company’s goal of stabilizing cash flow while maintaining a modern, efficient fleet.
Scorpio Tankers has been actively renewing its fleet in recent months, selling older vessels and acquiring newbuildings to improve efficiency and reduce operating costs. The company’s pro‑forma net cash position of $382.7 million, reported in January 2026, reflects the cumulative effect of these transactions and debt repayments. The sale and charter deals reinforce the company’s focus on liquidity, debt reduction, and fleet modernization, positioning it to capture opportunities in a market that continues to favor newer, scrubber‑fitted vessels.
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